Forecasts '09 - Part Two - EREB

The EREB came out with their 2009 forecast today, here are the highlights... somewhat vague and short on details this year, but maybe they'll add the residential and townhouse forecast at a later time.

UPDATE: In a Edmonton Sun article covering the event they quote a residential forecast from them, so we'll include it. Like the SFH projection, they're essentially saying that it will remain unchanged.

          Dec 2008    Dec 2009    Projected  Projected     
          Actual     Forecast    Change       +/- %
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Edmonton  $310,974    $310,000       -$974     -0.3%
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SFH       $351,870    $352,000       +$130      0.0%
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Condos    $234,286    $222,500    -$11,786     -5.0%
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Sales      17,713      15,500       -2,213    -12.5%
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And for those curious, here is a look at how their predictions played out last year.

          Dec 2007    Dec 2008    Dec 2008               +/-
          Actual     Forecast     Actual    Difference   %
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Edmonton  $329,705    $342,893    $310,974   -$31,919   -9.3%
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SFH       $382,022    $397,303    $351,870   -$45,443  -11.4%
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Townhome  $306,967    $319,246    $292,893   -$26,353   -8.2%
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Condos    $253,270    $263,401    $234,286   -$29,115  -11.1%
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Sales       20,544      19,100      17,713     -1,387   -7.8%
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So they were off by about -10% across the board with last years prognostications